A note to readers:
Minneapolis Public Schools finances are important but can be confusing. As we continue to cover the district’s budget, we want to pause from time to time and explain some of the terminology and concepts. If you have a term or concept you’d like to know more about, or something you find confusing, let us know in the text box at the bottom of the page. If we don’t know the answer, we’ll try to track it down for you.
Minneapolis Public Schools uses fund accounting to track its revenue and expenses. In a fund accounting system, revenue is separated into entities, called funds, based on the rules for how the revenue can be spent. While the district has thirteen funds, the four most relevant to understanding district operations are the general fund, the food service fund, the community service fund, and the building and construction fund.
The general fund is the fund used to track the revenue and expenses for operating the district’s schools and administration. Direct instruction, student support services, transportation, and facilities maintenance are some of the types of expenses tracked through the general fund. Anything not included in another fund is tracked through the general fund.
The general fund is the largest of the district’s accounting funds. Over 70% of the district’s expenses are accounted for through the general fund. In the current school year, about $620 million of the district’s $850 million budget is allocated to the general fund.